International Reserves in Mongolia
Mongolia - International ReservesThe economy likely lost steam in the second quarter as social distancing took its toll on domestic activity and external demand remained downbeat. Industrial activity, which contracted sharply, was especially affected by restrictions. Moreover, the external sector deteriorated markedly in Q2, with oil exports particularly hit, on a combination of lower volume and an overall decline in prices. As Mongolia’s economy relies heavily on trade, external financing challenges have arisen from the deterioration of the balance of payments. As a consequence, the government triggered the IMF’s Rapid Financing Instrument in June and received a loan from the Asian Development Bank in May, with combined support worth roughly USD 200 million. In other news, the incumbent Mongolian People’s Party won a majority in parliamentary elections held on 24 June, maintaining political stability.
Mongolia - International Reserves Data
|International Reserves (USD)||1.3||1.3||3.0||3.5||4.3|
5 years of economic forecasts for more than 30 economic indicators.
Mongolia International Reserves Chart
Source: Bank of Mongolia and FocusEconomics calculations.
|Exchange Rate||2,735||-0.04 %||Jan 01|
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